Posts Tagged ‘Meatpacking District’
Saturday, March 17th, 2012
Posted by Leonard Steinberg on March 17th, 2012
At Monday night’s Community Board meeting, Friends of the High Linee released the initial design plans for the third and final section of the High Line Park at the Hudson Rail Yards. This third section will connect the West Village/Meatpacking District to West Chelsea and ultimately take you all the way to the Javits Center on Eleventh Avenue where the new subway station is being constructed. The renderings from architects James Corner Field Operations and Diller Scofidio + Renfro are available on the High Line’s website and they show the final section of the elevated park incorporating familiar elements, as well as several brand new features. The design will be closely integrated to the massive Hudson Yards development, as the park will wrap around the new buildings of the Hudson Yards, and construction is expected to be complete by the end of 2013!
The third section’s total cost will be about $90 million (which comes from donors, not the city’s pockets), and it will be open to the public by spring 2014. The impact of this section will be huge for New York real estate, acting as a connector to neighboring areas in the form of an elevated promenade that will link an entire ‘new city’ to the more established parts of the west side of Manhattan. Watch real estate values soar around this new section: while it is definitely new turf, its proximity to the #7 subway extension will be critical. Now lets hope that what they build around there doesn’t look like the generic vulgarity that is Dubai….
Sunday, July 31st, 2011
Posted by Leonard Steinberg on July 30th, 2011
We have covered this subject before in LUXURYLETTER: Manhattan and New York City sidewalks are constantly covered with hideous, unsightly construction sheds and scaffolding. Always dark, somewhat sketchy, and often covered with graffiti, the sheds leave much to be desired, which is why the Department of Buildings hosted the UrbanSHED Competition, asking designers to create a more aesthetically pleasing design for these sidewalk canopies. A prototype of the winning design has just been unveiled: the arched steel structure with a transparent top is a breath of fresh air. Designed by winner Young-Hwan Choi with architect Andrés Cortés and engineer Sarrah Khan of New York-based Agencie Group, the new canopy is a huge improvement from the standard pipe and plywood shed.
It is time to really evaluate this ugly scaffolding once and for all: While I love the concept of re-designing the scaffolding and making it more attractive, personally I see permanent sidewalk covers as the solution. The cost to building owners to rent these structures is prohibitive. With the sun a lot less desirable these days, why not cover sidewalks (a la Meatpacking District and Tribeca) with permanent canopies. These (attractive) canopies could be made of solar panels to generate power and also transmit light. Something needs to change.
Thursday, June 2nd, 2011
Posted by Leonard Steinberg on June 2nd, 2011
The penthouse at 2 Horatio just went to contract for over $ 4,000/sf: Granted it was gut renovated, has spectacular views and significant outdoor space, but 2 Horatio is not exactly considered a trophy building. It is a co-op with lovely apartments, although most are rather ordinary. Across the park (Jackson Square) the penthouse at One Jackson Square sold for significantly less at just under $ 3,000/sf, even though its a brand new condominium with a swimming pool. Around the corner, Jennifer Anniston just bought three apartments including a penthouse on West 12th Street for just under $ 9 million total…they are to be combined and require a complex renovation so at the end of the day, the price will probably be around $ 4,000/sf too. These three apartment sales clearly indicate the strength of West Village pricing in New York…..an area becoming known as RECESSION PROOF.
Its also the area where the young (or young-at-heart) wealthy want to live now. The fact that prices of this caliber are being achieved in OK buildings certainly screams for a new building that delivers more than just great apartments, but also services and amenities to rival uptown buildings such as 15 Central park West.
With the down-zoning of the entire area, views will always sell for a premium in this part of town known for its amazing year-round light and charming tree-lined streets, not to mention its proximity to the Hudson River Park, the Highline Park, Meatpacking District boutiques and nightlife, the new Whitney Museum coming to 12th Street…..and the list goes on. West Greenwich Village rules! (Yes, anything West is pretty good these days, and only getting better.)
Tuesday, December 21st, 2010
Posted on December 21st, 2010 by Leonard Steinberg
With the recent announcement of the Whitney Museum’s new outpost planned for construction at the end of the Highline Park in the Meatpacking District, Downtown will be forever changed. The Renzo Piano (Think Pompidou, Paris)designed 55,000sf art museum will be a cultural anchor of historic significance that will forever alter the fabric of the area, more recently famous for restaurants, fancy boutiques and slick hotels. The Highline Park will provide a connection between a world-class museum and the world’s strongest concentration of contemporary art galleries, making the West Side a cultural destination unlike any other anywhere in Manhattan, or the world. And it will fuel New York real estate.
With 3 million visitors in its first year alone, the Highline Park in itself has been a huge draw: but with a limited span open, its true ‘facebook-style’ connectivity effect has yet to be felt when the extension opens up the park from 20th Street to 28th Street, the streets where the bulk of the galleries are located. I leave it to your imagination what else will follow, but I predict that within 5 years, the area will be unrecognizable from its current state. I suspect a strong retail element will follow, as well as continued residential construction to add to the already superb mix from architects such as Jean Nouvel, Shigeru Ban, Annabelle Selldorf, Neil Denari and Frank Gehry. The very best may be yet to come.
Thursday, October 28th, 2010
If you are walking near West 26th Street and 10th Avenue, look up. You will notice a new addition to the High Line—the Viewing Spur is starting to take shape. Crews have hoisted the 22-by-11-foot painted steel frame into place, giving us a hint of what will soon be one of Section 2′s most dynamic design features. The Viewing Spur is meant to recall the billboards that were once attached to the structure of the High Line. This frame, though, will enhance views of the High Line and the city, rather than blocking them as the billboards once did. The Viewing Spur will be surrounded by shrubs and trees, such as Flameleaf sumacs (Rhus copallina), sassafras (Sassafras albidum), and Greenbay magnolias (Magnolia virginiana ‘Greenbay’). At the foot of the frame, a platform with wood benches will invite High Line visitors to sit and enjoy views of the neighborhood. Meanwhile, passers-by on the street will look up and see people in the place of advertisements. We think it will be one of the best places for people watching when Section 2 opens next spring.
“Only when the extension of the High Line Park opens next Spring, will we see the true value of it’s ability to connect neighborhoods,” says Leonard Steinberg, publisher of LUXURYLETTER and managing director of Prudenital Douglas Elliman. “This park will connect the sensational gallery district of West Chelsea to the vibrant Meatpacking District and Greenwich Village. What surrounds this park will be simply amazing, and already we can witness the creation of an entirely new quality of life for Manhattan living.”
Sunday, October 10th, 2010
Does real estate with a racy image expose you to potential legal hazzards? Does it inspire bad behaviour? An Australian businessman acquitted of trying to rape a maid at The Standard is suing the Meatpacking District boutique hotel for $10 million, charging that its racy atmosphere contributed to the false charges filed against Matthew Moorhouse, 42, who allegedly attacked the maid when she went to clean his room on Nov. 9, 2009.
He claimed she lied after he caught her rifling through his bag. He was acquitted in July this year. The hotel’s floor-to-ceiling windows are well known for allowing nude guests to put on a show for passers-by in nearby High Line Park.
The suit was filed last week in Manhattan Supreme Court.
“It makes you think about real estate in general,” says Leonard Steinberg, managing director of Prudential Douglas Elliman and publisher of LUXURYLETTER. “What exactly will the new owners of the Guccione Mansion on the Upper East Side be inspired to do, and who will be sued if bad behavior ensues? Interestingly, Andre Balazs bought the Upstate New York mansion that used to belong to Bob Guccione several years ago….maybe this purchase inspired the antics at The Standard?”
Is everything, including real estate, leaning towards CONSERVATIVE this Fall?